Ghana’s Importers & Exporters Association (IEAG) has issued a sharp call for sweeping reforms at the country’s ports, citing inefficiencies that undermine competitiveness and fuel smuggling.
At its 11th-anniversary event in Accra, Executive Secretary Samson Asaki Awingobit warned that persistent delays and high costs are driving traders to use Togo’s ports, with goods often smuggled back into Ghana.
Awingobit also highlighted the widening gap between official and black-market exchange rates as a critical threat. “Traders struggle to access dollars, euros, or pounds through banks, forcing them to volatile black-market rates,” he stated. He urged the Bank of Ghana (BoG) to establish a single, transparent forex rate for all banks and bureaus to curb speculation and price surges.
The plea comes amid broader pressure to lower borrowing costs. While BoG Governor Dr. Johnson Asiama acknowledged the need to align interest rates with easing inflation, the IEAG stressed that “pragmatic measures and political will” are non-negotiable for real change.
Support emerged from Ghana Shippers’ Authority CEO Prof. Ransford Gyampo, who pledged in a keynote address to slash port costs and curb smuggling. “We will close loopholes, review charges, and ensure importers’ voices shape policies,” he vowed. Under the new Shippers Act, the authority will scrutinize fees—negotiating reductions or eliminating some entirely—while leveraging a stronger cedi to ease costs.
The association welcomed these commitments but emphasized urgency. With Ghana’s trade ambitions at stake, the IEAG’s message is clear: streamline ports, unify forex, or risk deeper economic leakage.
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